Debit software purchase accountCredit cash / bank
Purchases a/c dr Accounts Payable cr
Debit assetsCredit liabilitiescredit cash / bank (balance amount)
Compound journal entry is that entry which records more than one business transaction in one single journal entry.
[Debit] Computer Asset Account [Credit] Accounts payable account
Purchase a/c....Dr To Creditor a/c (party from whom goods are purchased)
There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.
cash book, petty cash book, returns inwards journal, returns outwards journal, yes
We are purchasing stock rs 3480.00 they give discount rs 170.00 how do we entry the purchase
there are adjustments are in journal entries but there is no certain meaning, definitions for the term 'journal entry adjustment'
Yes. In practice, accountants and bookkeepers normally use computer software to input journal entries; the software automatically ensures all accounts are balance after every journal entry.
journal entry to write off a loan